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A clause in a purchase agreement that gives buyers and sellers the right to cancel a contract if certain terms aren't met. For example, a mortgage contingency requires the buyer to secure a ...
Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
Canceling a credit card delivers a hit to your credit score, but you can minimize the damage. ... Some of the best balance transfer cards offer an intro 0 percent APR for 18 months or longer on ...
First, where a party to a contract exercises an express right of termination, he or she is sometimes said to have exercised a right to rescind the contract. Secondly, where a party is faced with a repudiation, the party can elect to terminate the contract; this too has often been referred to as an election to rescind. "Rescission" at common law.
Many U.S. states impose versions of those cooling-off period laws, and offer similar laws for an additional range of transactions, such as time share purchases and health club contracts. For example, California provides cooling-off periods for many consumer transactions, including insurance purchases, car warranties, dental services, and weight ...
The Privy Council ruled in 1966 that a party who asserts "a genuinely held but erroneous view as to the effect of the contract" should not be treated as in repudiation, but in the case of Vaswani v Italian Motors, a car seller's conduct went beyond mere assertion of such an opinion, and in demanding more money for a sale than the agreed price ...